Insurance License Suspended over failure to pay College Loans

[whatyouwantfinally]

But the old folks want to keep on believing it is due to the general laziness of younger folks.

That just isn't so. A buddy of mine is a contractor and has a small sales force of cold knocking home improvement sales people - all under 40. He pays them to sit home when it rains or snows, he pays them to stay home on holidays, and he pays them about $40/hour to knock doors whether they make a sale or not. Plus, he pays them a generous commission.

He has five knockers and four of them have been with him for years.

Pay people to work hard for you and you will find people to work hard for you.

Pay people $h*t wages and ... you get what you pay for.

I did both sales and appointment setting for contractors after college, and there's a lot more to that story. It pays well because it's a valuable skill that most people can't do well. If everyone could do it, your friend wouldn't be paying people what he does.

I'm sure he had to churn through a lot of sales people (maybe still does?) and has experienced plenty of people trying to "milk" his system, just like any insurance agent who pays producers a high guaranteed salary.

Is the secret to running an insurance agency paying everyone a high guaranteed salary? You'll have no problem finding horror stories from people who tried it.

You know where all the restaurant and fast food workers have gone? NBo, they aren't sitting home collecting that "generous" $300/week unemployment "bonus." No sir ... they are getting $15+ and hour at Target and Walmart and Amazon ... they are getting $21.50/hour and up at warehouses and logistics companies.

Did Target/Walmart/Amazon just massively increase their workforces or something? Are people being welcomed when they walk into Walmart by 50 $21.50/hr greeters now?

Where did all the truck drivers go, etc.? Are the unemployment stats a lie?

All that $300/week did was give them the breathing room finally to see their way clear to have enough time off from their bullsh*t low wage jobs to go apply for and interview for a job that pays them closer to what a human being is worth.

Nobody is collecting that $300 (formerly $600)/wk? Where's all the $ going then?

How much would you pay someone to bring your mail in for you everyday. $60k/year? No? But they're human beings!

Restauranst and fast food joints are going to have to figure out how to pay at least $15/hour plus bennies (health and 401(k) or the owners will have to roll up their owndamnsleeves and gettowork.

Do you know any restaurant owners? You don't think they work?

You're describing a world where most everyone who can get work has to work for giant corporations and running a small business in a lower-income area (and beyond) is basically mathematically impossible.

 

[Tahoe Ray]

The housing market will be slowed to a crawl.

I agree that this will happen, however, I think housing prices will remain at current or higher levels.

CBS calls it "the great reshuffling" where remote working and school allow people access to areas that were previously not practical.

I think it will be interesting in a year or so when all of the SF Bay people who moved to Tahoe have to deal with their first bad winter...there will probably be some inventory then!

 

[whatyouwantfinally]

Several states already have minimum wages north of $13 and none of that happened.

If by "several" you mean 2, sure. Try it in a lower-income state and watch what happens.

 

[Tahoe Ray]

If by "several" you mean 2, sure. Try it in a lower-income state and watch what happens.

Well, 3 if you count DC and "several" states already have ballot measures where they're increasing the min wage past that threshold over the next few years.

Not to mention, we're still talking about 45 million+ people.

As technology and logistics have made businesses more efficient, wages have not kept up.

 

[Life Hawk]

Watch the minimum wage thing. As it goes up, the automation will increase. I've been to Lowes twice in the recent past and they have 1 person watching the "check yourself out lanes" and no one on a normal register.

Higher wages will not lead to more pay, but fewer jobs, higher prices, and terrible customer service. Just ask some of the companies I use, if you can get them on the phone.

As to schooling at home... we just put through our last one and she is debating on attending college or a trade school. Not to brag, but I am a proud papa of 3 blessing. Gonna miss those little tax credits!!!!!!!!!!!!!

 

[Tahoe Ray]

Higher wages will not lead to more pay, but fewer jobs, higher prices, and terrible customer service. Just ask some of the companies I use, if you can get them on the phone.

I don't believe that to be accurate.

How Higher Wages Can Increase Profits

The amount of bs that the service industry employees endure (from the barista to the insurance company service rep) disincentives people from taking those jobs. Compensation needs to catch up for entry-level jobs.

In 1970, the median wage was more than half the median cost of a home. Today, the median HOUSEHOLD income is less than 20% of the cost of a home. And that's not because housing prices have gone "crazy". They are slightly higher than where they were at the top of the market, 15 years ago.

A high school kid working at In-n-Out makes almost double the wage of someone working at a Chevron in Georgia trying to pay their rent.

That doesn't sit right with me.

 

[scagnt83]

Wage stagnation is a thing. You see all of the signs up looking for employees? They wouldn't be there if they paid people a living wage.

What hits your bottom line harder, paying your employees more or having to reduce hours of operation because you can't even keep your business open?

Exactly. A local restaurant had staffing issues, had to pass on 4 catering gigs last month because of it... costing them $10k in profits.

They upped pay from $12/h to $18/h. Filled the positions in 2 days. Said they would have made $8k in profits off those catering gigs if paying $18/h. Still worth it. And with a 5% price increase they could have cleared $9k in profits.

In contrast, Hardees is offering a free combo meal with every application. If they paid enough per hour to buy 2 combo meals... they wouldnt need such a pathetic promotion to get workers.

 

[scagnt83]

Higher wages lead to more spending. From an economics point of view (morals aside), wealth being overly concentrated is not a good thing for an economy. People in lower income brackets are not hoarding those extra dollars... they are spending them on necessities... which further drives our economy.

Higher wages for unskilled jobs means more cash being circulated in our economy. It means more people with money to go out to eat... or to buy insurance...

Higher wage earners are not consuming more as wealth increases, they are saving more. That does not stimulate our real economy... it only stimulates the stock market. Which is why we have seen huge market gains over the past 30 years but stagnant wages for middle income and low income workers.

 

[scagnt83]

There are 3 things most people miss about the minimum wage:

- It is currently half of what is should be to have kept up with inflation over the past 50 years.

To keep using fast food and restaurants as an example:

1975- minimum wage bought 2 BigMacs combos, with change left over

2021- minimum wage buys 0 BigMac combos, you need an extra $0.40 for just 1



- It sets the level of all wages above it.

A higher minimum wage means higher wages for everyone. Anytime there has been a minimum wage increase, wages for middle income earners have increased by the same % over the next 5 years. People dont go to work as a cook if they can wash dishes for the same pay. People dont become a manager if they can be a cook for the same pay. Etc. Etc.



- It was originally meant to be a living wage (per the words in the legislation)

 

[DonP]

The difference between risk money and safe money has never been higher . The last 12 yrs the spread between risk money and safe money the highest in history . Risk must return to collapse this ratio .